Lee International Plc

Frederick W. (Ted) Field, a film producer and an heir to the Marshall Field department store fortune, has agreed to sell the movie industry's prestigious camera supplier, Panavision, to a British firm for $147 million, it was announced Wednesday. The price for the Tarzana firm includes $100 million cash, with purchaser Lee International of London assuming $47 million of debt, the parties said. Field has controlled Panavision since 1985 through his 100%-owned Interscope Communications.

Last Oct. 13, former film lighting electricians John and Benny Lee seemed to be on top of the world. The British brothers had just bought Panavision, the Tarzana company that supplies 35-millimeter cameras and accessories to cinematographers in the movie and TV industry. That same day, the Lees bought out the public shareholders of Lee International, their London entertainment services conglomerate. The two deals cost $327 million.

Last Oct. 13, former film lighting electricians John and Benny Lee seemed to be on top of the world. The British brothers had just bought Panavision, the Tarzana company that supplies 35-millimeter cameras and accessories to cinematographers in the movie and TV industry. That same day, the Lees bought out the public shareholders of Lee International, their London entertainment services conglomerate. The two deals cost $327 million.

Frederick W. (Ted) Field, a film producer and an heir to the Marshall Field department store fortune, has agreed to sell the movie industry's prestigious camera supplier, Panavision, to a British firm for $147 million, it was announced Wednesday. The price for the Tarzana firm includes $100 million cash, with purchaser Lee International of London assuming $47 million of debt, the parties said. Field has controlled Panavision since 1985 through his 100%-owned Interscope Communications.